Hacked Japanese exchange Coincheck completes $435M refund to customers

posted about 1 year ago
Coincheck Inc., a Japanese cryptocurrency trading platform operator that was hacked for $435M worth of NEM tokens in January, said Tuesday that it has completed compensating customers affected by the hacking and resumed some exchange services.

According to a spokeswoman at Coincheck, the actual compensation process took only a day, having been begun and completed on Monday. She said the company used its own money for the $435M refund.

With the completion of refunds made, Coincheck has resumed taking withdrawal orders which it had ceased the day of the hack but has not begun taking deposit orders at the time of writing.

Coincheck which is self-described as the second largest exchange in Japan has expressed its intention of remaining in business as an exchange even though it has yet to obtain a trading license. FSA regulators have twice officially warned the company to improve its business practices.
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